Middle incomers have replaced the higher incomers as the main force of the homebuyers in Shanghai, reported Eastday.com.
According to the property developers' estimation, most the middle incomers are able to buy a 120 square meters apartment with three living rooms and two restrooms, or a 100 square meters set with two living rooms and two restrooms, through a combination of various financing means, ranging from the deposit savings to selling the old houses and bank loans.
In this case, the new property projects in northern city, Pudong area and the west Minhang area will be attractive for their high quality, comparatively lower prices and convenient transportation conditions, industry insiders say.
For the higher incomers, most of who have supposedly bought homes, are entering the second round of home purchase and therefore will favor villas and high-end apartments, while another buyer group, the lower-incomers, basically will prefer low price houses and second hand houses.
With a clearer notion of their own social and economic positions, people tend to take the neighborhood into account when decide where to live, industry insiders say.
In fact, since 2000, real estate projects aiming at a certain consumer group have appeared.
Statistics show the current house deals average 283,900 yuan, with 3,095 yuan per square meter and 92.92-square-meter construction area each unit.
(Eastday.com 03/15/2001)
